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VH Global Energy Infrastructure plc announced on 19 December 2024 a one-month delay in the production of the first CO2 stream from its UK flexible power plant, now expected in late January, due to commissioning delays and a minor fault in the carbon capture units. Full export of CO2, including the second stream, is now scheduled before the end of Q1 2025. The site is almost 90% commissioned, with the power island comprising six Rolls Royce MTU engines already onstream.
| Date | 19 Dec 2024 |
| Time | 07:00:07 |
| Category | Corporate updates |
| ID | 6571Q |
VH GLOBAL ENERGY INFRASTRUCTURE PLC
19 December 2024
Update on the UK flexible power project
VH Global Energy Infrastructure plc ("the Company") has today provided an update on the commissioning progress of its UK flexible power plant with carbon capture and reuse.
As a result of initial delays in commissioning the high-temperature Organic Rankine Cycle turbines and a minor fault in the carbon capture units detected at the start of commissioning, the Company has taken the prudent decision to delay the production of the first CO2 stream by one month to late January. This decision also takes into account the planned cessation of works during the Christmas period. Full export of CO2, including the second stream, is now scheduled before the end of Q1 2025.
The Company remains excited by the successful delivery of this innovative project, which supports renewable energy access in the UK through grid stabilisation while reducing greenhouse gas emissions at the point of generation. As of today, the site is almost 90% commissioned, with the power island comprising of six Rolls Royce MTU engines (four 16V engines and two 12V engines), as well as gas pipework on site onstream. Commissioning of the carbon capture facility is ongoing.
The Company is focused on delivering all elements of the project to the highest standard, reflecting its commitment to robust execution and long-term performance.
www.globalenergyinfrastructure.co.uk
The Company's LEI is 213800RFHAOF372UU580.
For further information:
Edelman Smithfield (PR Adviser)
Ged Brumby + 44 (0)7540 412 301
Hamza Ali + 44 (0)7976 308914
Victory Hill Capital Partners LLP (Investment Manager)
Navin Chauhan [email protected]
Deutsche Numis (Corporate Broker)
David Benda +44 (0)20 7260 1000
Matt Goss
Ocorian Administration (UK) Limited (Company Secretary)
About Victory Hill Capital Partners LLP
Victory Hill Capital Partners LLP ("Victory Hill") is authorised and regulated by the Financial Conduct Authority (FRN 961570).
Victory Hill is based in London and was founded in May 2020 by an experienced team of energy financiers that spun-out of a large established global project finance banking group. The team has participated in more than $200bn in transaction values across 91 conventional and renewable energy-related transactions in over 30 jurisdictions worldwide. Victory Hill is the investment manager of the Company.
The Victory Hill team deploys its experience across different financial disciplines in order to assess investments holistically from multiple points of view. The firm pursues operational stability and well-designed corporate governance to generate sustainable positive returns for investors. It focuses on supporting and accelerating the energy transition and the attainment of the UN sustainable development goals.
Victory Hill is a signatory of the United Nations Principles for Responsible Investment (UN PRI), the United Nations Global Compact (UN GC), Net Zero Asset Managers Initiative (NZAMI), a member of the Global Impact Investing Network (GIIN) and is a formal supporter of the Financial Stability Board's Task Force on Climate-related Disclosures (TCFD).